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Tag: insurance-journal

India Tunnel Collapse Shows Risk of Construction in Fragile Himalayas
Insurance Journal | November 20, 2023
India Tunnel Collapse Shows Risk of Construction in Fragile Himalayas
For nearly a week, 40 workers have been trapped in an under-construction tunnel after a landslide demolished its entrance, derailing a major connectivity development in India’s mountainous state of Uttarakhand. Since Nov. 12, rescue teams have employed a slew of …
Australian Telco Optus’ CEO Quits After Massive Network Outage and Cyber Attack
Insurance Journal | November 20, 2023
Australian Telco Optus’ CEO Quits After Massive Network Outage and Cyber Attack
The head of Australia’s second-largest telco Optus resigned on Monday, cutting short a more than three-year tenure marred by a massive network-wide outage and one of Australia’s largest data breaches. Parent Singapore Telecommunications announced the resignation of Optus CEO Kelly …
Nationwide: Gap Between Agents, Commercial Clients View of Severe Weather
Insurance Journal | November 20, 2023
Nationwide: Gap Between Agents, Commercial Clients View of Severe Weather
A Nationwide study has found that independent insurance agents believe many of their commercial clients don’t have adequate coverage to protect their businesses from severe weather. While 82% of surveyed property stakeholders reported working with an agent to ensure appropriate …
Ransomware Gang LockBit Revises Its Tactics to Get More Blackmail Money
Insurance Journal | November 20, 2023
Ransomware Gang LockBit Revises Its Tactics to Get More Blackmail Money
LockBit, the prolific ransomware gang that has launched attacks recently on Boeing Co. and Industrial Commercial Bank of China Ltd., among others, has revised the way it tries to blackmail victims because it’s disappointed with lower-than-expected ransom payments, according to …
Choice Financial Acquires Hackmeier Agency in South Florida
Insurance Journal | November 20, 2023
Choice Financial Acquires Hackmeier Agency in South Florida
Virginia-based Choice Financial Group has acquired Jeff D. Hackmeier and Associates, a south Florida insurance agency catering to high net-worth clients. Hackmeier, based in Bay Harbor Islands, near Miami, has been in business since 1978, the companies said in a …
People: McCosh, Sumrall Take New Posts at McGriff
Insurance Journal | November 20, 2023
People: McCosh, Sumrall Take New Posts at McGriff
McGriff, a Charlotte-based insurance broker and subsidiary of Truist Insurance Holdings, said it has named two people to help lead its risk services division. Brandon McCosh was promoted to be national director, risk control; and Shane Sumrall was named national …
Skanska Ordered to Pay $1.7M to Florida Oyster Farm for Barges Loosed in Storm
Insurance Journal | November 20, 2023
Skanska Ordered to Pay $1.7M to Florida Oyster Farm for Barges Loosed in Storm
Skanska USA, part of one of the world’s largest construction firms, was ordered to pay almost $1.7 million to a Florida oyster farmer, three years after the firm’s barges broke loose in Hurricane Sally. The state-court jury verdict last week …
Bayer Ordered to Pay $1.56B in Latest Trial Loss Over Roundup Weedkiller
Insurance Journal | November 20, 2023
Bayer Ordered to Pay $1.56B in Latest Trial Loss Over Roundup Weedkiller
A Missouri jury ordered Bayer to pay $1.56 billion to four plaintiffs who claimed the company’s Roundup weedkiller caused injuries including cancer, a verdict that could intensify investor pressure on the German drugs and agricultural chemicals company to change its …
Federal Appeals Court Strikes Down Air Pollution Permit for Texas LNG Terminal
Insurance Journal | November 17, 2023
Federal Appeals Court Strikes Down Air Pollution Permit for Texas LNG Terminal
A federal appeals court on Monday struck down a major air pollution permit issued by Texas’s environmental regulator, arguing that the state allowed improperly high emissions limits for Port Arthur LNG, a gas liquefaction and export terminal currently under construction …
Study: Medical Payments to Treat Injured Workers in Texas Stable Over Five-Year Period
Insurance Journal | November 17, 2023
Study: Medical Payments to Treat Injured Workers in Texas Stable Over Five-Year Period
Medical payments to treat injured workers in Texas were stable from 2016 to 2021, according to a new study from the Workers’ Compensation Research Institute (WCRI). The study, CompScope Medical Benchmarks for Texas, 24th Edition, found that stability in medical …